My vision is that Bitcoin becomes the "central bank" of crypto-currencies, and that minor transactions are moved onto sidechains or other cryptos. Bitcoin could then become a store of wealth, and it could be used for house purchases and other big ticket items.
The current banks take several days to settle an international transfer. Bitcoin does it in minutes. Why is Bitcoin not fast enough for you? |
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Wrong, bitcoin is not centralised but it's opposite of that. Bitcoin us decentralised which means no other 3rd party can alter the bitcoin network and government could also can't impose tax on bitcoin. All I know is bitcoin is automated and no one can change the system.
Yes Bitcoin is decentralized, anyone or the majority can decide whether they want to change protocol in Bitcoins Algorithm if necessary. But, it is still up to the Bitcoin Core Developers to execute those changes if they want it or not. [T]here is a discrepancy between those who can provide input to the project (the community at large) and those who have the ultimate call as to where the project is going. Indeed, while anyone is entitled to submit changes to the software (such as bug fixes, incremental improvements, etc.), only a small number of individuals (the core developers) have the power to decide which changes shall be incorporated into the main branch of the software. (c) https://www.cryptocoinsnews.com/bitcoin-highly-centralized-network-says-harvard-researcher/That "main branch" is only for that individual project. They have no control over what people choose to run. Many users run Bitcoin projects that are unrelated to the Core project. |
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So if the blocks were generated faster, but were not as full, would we be worse off in respect of the aborted block generations?
Nah. Mining hardware doesn't really care how fast blocks are, nor how big they are. |
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We all subscribed to 2 major bitcoin laws, when we bought or mined them:
1. The protocol is 1MB per block. Period!
The limit was 32MB when I signed up. Bring back the 32MB limit. |
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would it be possible to combine it with another radical change - reduce the blocksize to 500Kb, and the generatiion interval to one minute.
Lowering the time increases the wasted work, both with more overhead in blocks and in more orphaned blocks. |
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The idea was that as bandwidth and technology capabilities increased, so would blocksize. Bigger blocks does not mean centralization.
To a point, yes. Truly massive blocks would lead to centralization. |
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OKAY WILL WHOEVER IS FOR A 1MB LIMIT PLEASE STEP FORWARD I WILL PERSONALLY SMACK YOU UPSIDE THE HEAD! :-D LOLZZZ
Bring on the 10MB blocks. The network is not run on netbooks anymore. |
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To add -- 1 Bitcoin does not exist. If someone sends you 1 Bitcoin, he is sending you 100,000,000 satoshis. It's the GUI that shows you have 1 Bitcoin in your wallet. People don't seem to understand that when they look at the 21 million coin cap, it's not that there are only 21 million coins ever to be produced, but in reality the coin cap is slightly under 2,100,000,000,000,000 satoshis or units (whatever people like to call them).
I'm holding out for parity with 1 satoshi = $1. Then we've won. |
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So why don't we want to double traffic? Anyone?
I want 10x. |
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I don't mean to be a curmudgeon, but when it comes to subject matters like this, 0% is an exaggeration, no?
Maybe you could say .000001% and still make your point?
Nah, a quick read of that message says to me that 0% is an accurate assessment. It would have to be Satoshi pretending to be someone other than Satoshi trying to be Satoshi. I'd give it a 0% chance. |
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Anybody else getting nervous about next week? I don't know whether to sell or buy right now.  Buy, definitely. |
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4) "When Will We See Collisions for SHA-1?" - Bruce Schneier -https://www.schneier.com/blog/archives/2012/10/when_will_we_se.html
Bruce sure knows his stuff. A collision attack is therefore well within the range of what an organized crime syndicate can practically budget by 2018, and a university research project by 2021.
...the need to transition from SHA-1 for collision resistance functions is probably more urgent than this back-of-the-envelope analysis suggests.
Any increase in the number of cores per CPU, or the number of CPUs per server, also affects these calculations. Also, any improvements in cryptanalysis will further reduce the complexity of this attack.
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I have them turned off. Such a better browsing experience. Every once in a while I don't log in and end up seeing the signatures again. It's a good reminder that having them off is a huge improvement.
Look at it this way. People post hundreds and thousands of posts, but normally the signature is displayed every single time. No signature is so good that I want to read it a thousand times.
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Is there anything like "OFFICIAL ALL TIME HIGH" price of bitcoin? If yes, what was it before this latest ATH? One more thing, what is the new OFFICIAL ATH price of bitcoin?
There is no "official", but Bitstamp is the best previous ATH of 1163, so keep watching Bitstamp prices for new ATHs. |
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And if Are there any plans on introducing a 960 Activity level?
Like Legend Member
Look at my rank. Also, read this post. It's time for a >2k rank.  |
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A Bitcoin ETF makes about as much sense to me as sails on a submarine.
There is money tied up in accounts and regulations that cannot buy bitcoin directly, but could buy a bitcoin ETF. |
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Well, in order to consider a dump rejected, it first needs to go up to where it was before, we are still sitting at low $900's... we'll see if we go back $920.
920 achieved. Up? |
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How so? The info is based on Jan 15 - the last time I scanned your profile. I see your activity has jumped up a few since then, and that will be updated.
How'd you make the list? I couldn't find a way to sort on activity. I think I might have secured 5th place. /flex |
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The Bible is also written in extremely symbolic language.
The Bible is perfect. If you like what one passage says, you take it literally. If you don't like what it says, you take it figuratively. |
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